Topic: Lose all your capital fast, with MatTheCat and his TA 101A! - page 16. (Read 85765 times)
September 08, 2016, 07:22:28 PM
I'm a paranoid and distrustful person, so I don't and haven't kept any value on any exchange or even coinbase for the last couple years. However, I can certainly understand why people do - to trade. How can it be possible to make any forward progress if you can't set sells and buys at certain levels? the market moves way too fast to see a dump happening, get btc on an exchange (forget fiat, that's like sending a fucking wire transfer that takes ages) and take advantage of it. I'm not excusing Matt and his trading skills, I'm simply questioning any notion of being able to trade without keeping fiat and btc on an exchange. You can't do it. Period. Now, if you are still a lucky bastard who paid a buck or less for each btc and keep them in cold storage, go fuck yourself - you don't have the right to criticise someone not in that boat.
September 08, 2016, 12:58:11 AM
That would be Munchhausen by proxy syndrome where somebody who normally would be expected to take care of somebody in their charge intentionally causes them harm and so gains attention indirectly and sympathy for the pain or even fatal loss inflicted. Sounds like a tv story line but Ive heard of a few cases on the news. One movie I remember, Sixth sense had part of the plot involving something like that, google it if you like
Ive no idea if thats the case here just sounded familiar, sorry carry on :p
Gold has counter party risk quite often. The most frequent debate has been around GLD or the Exchange traded fund for gold holding which became quite massive. Some insisted the fund was not actually able to produce the gold it intended or stated it was in control of for its investors.
A very common argument is around options for gold which most definitely are not traded in proportion to the amount of gold required for physical settlement, so the price can get ahead of actual gold on market available. People are always going about the derivatives bomb which is mostly bs since most options expire worthless and not settled for delivery but anyhow gold and the other commodity's do have counter party risk. Thats just normal and nothing bad happens most of the time.
Its really good starting point about currency in general, fiat and monetary expansion I guess. Fractional reserves rely on creditors not recalling funds, seems similar to counter party risk to me. Its tied to Bitcoin because dollar of course is very leveraged and indebted, at one time dollar was tied to gold and called out by some countries as exceeding their ability to pay. That problem was solved by removing any right to actual payment, only settlement vs taxes is ultimately the worth of US dollar now.
When or if dollars fails its counter party test, it will then bring bitcoin and every other modern alternative to the worlds largest reserve currency to the forefront. It will be tested for efficiency to transact and ability to hold worth until a replacement for global reserves is found. Could be the test is already under way, I think dollar has already exceeded its ability to pay but its politically supported for now
http://www.rapidtrends.com/history-of-fiat-and-paper-money-failures/
Ive no idea if thats the case here just sounded familiar, sorry carry on :p
Quote
Gold isn't like that. Gold is gold. Gold is real wealth right down to it's very core, always was and always will be
Gold has counter party risk quite often. The most frequent debate has been around GLD or the Exchange traded fund for gold holding which became quite massive. Some insisted the fund was not actually able to produce the gold it intended or stated it was in control of for its investors.
A very common argument is around options for gold which most definitely are not traded in proportion to the amount of gold required for physical settlement, so the price can get ahead of actual gold on market available. People are always going about the derivatives bomb which is mostly bs since most options expire worthless and not settled for delivery but anyhow gold and the other commodity's do have counter party risk. Thats just normal and nothing bad happens most of the time.
Its really good starting point about currency in general, fiat and monetary expansion I guess. Fractional reserves rely on creditors not recalling funds, seems similar to counter party risk to me. Its tied to Bitcoin because dollar of course is very leveraged and indebted, at one time dollar was tied to gold and called out by some countries as exceeding their ability to pay. That problem was solved by removing any right to actual payment, only settlement vs taxes is ultimately the worth of US dollar now.
When or if dollars fails its counter party test, it will then bring bitcoin and every other modern alternative to the worlds largest reserve currency to the forefront. It will be tested for efficiency to transact and ability to hold worth until a replacement for global reserves is found. Could be the test is already under way, I think dollar has already exceeded its ability to pay but its politically supported for now
http://www.rapidtrends.com/history-of-fiat-and-paper-money-failures/
September 07, 2016, 11:26:45 PM
And here, class, we have a perfect example.
Mat is insinuating that he keeps a lot of his money, fiat and crypto, on exchanges. This is, of course, a completely retarded thing to do and the only reason he suggests it is to further his narrative, that being: Bitcoin is insecure and Mat is a perpetual victim!
However, he might still keep a percentage of his holdings there, even if not all of it. This is because, as noted above, he has a pathological need to remain in the victim role. In setting himself up to be robbed, for example by deliberately having weak account security (as he himself, some might say proudly, explained all about recently), and then waiting for someone to come along and guess his password of 123456, he stays in the victim role and feels vindicated in proclaiming bitcoin to be one huge scamfest.
This is the opposite psychology of what we commonly term "normal". There are people out there who will deliberately hurt themselves, simply for the sake of dragging even one of us down with him. They are what older and wiser people termed Evil.
Mat is insinuating that he keeps a lot of his money, fiat and crypto, on exchanges. This is, of course, a completely retarded thing to do and the only reason he suggests it is to further his narrative, that being: Bitcoin is insecure and Mat is a perpetual victim!
However, he might still keep a percentage of his holdings there, even if not all of it. This is because, as noted above, he has a pathological need to remain in the victim role. In setting himself up to be robbed, for example by deliberately having weak account security (as he himself, some might say proudly, explained all about recently), and then waiting for someone to come along and guess his password of 123456, he stays in the victim role and feels vindicated in proclaiming bitcoin to be one huge scamfest.
This is the opposite psychology of what we commonly term "normal". There are people out there who will deliberately hurt themselves, simply for the sake of dragging even one of us down with him. They are what older and wiser people termed Evil.
ha ha...wot an uptight bitter cunt u are.
September 07, 2016, 06:01:20 PM
And here, class, we have a perfect example.
Mat is insinuating that he keeps a lot of his money, fiat and crypto, on exchanges. This is, of course, a completely retarded thing to do and the only reason he suggests it is to further his narrative, that being: Bitcoin is insecure and Mat is a perpetual victim!
However, he might still keep a percentage of his holdings there, even if not all of it. This is because, as noted above, he has a pathological need to remain in the victim role. In setting himself up to be robbed, for example by deliberately having weak account security (as he himself, some might say proudly, explained all about recently), and then waiting for someone to come along and guess his password of 123456, he stays in the victim role and feels vindicated in proclaiming bitcoin to be one huge scamfest.
This is the opposite psychology of what we commonly term "normal". There are people out there who will deliberately hurt themselves, simply for the sake of dragging even one of us down with him. They are what older and wiser people termed Evil.
Mat is insinuating that he keeps a lot of his money, fiat and crypto, on exchanges. This is, of course, a completely retarded thing to do and the only reason he suggests it is to further his narrative, that being: Bitcoin is insecure and Mat is a perpetual victim!
However, he might still keep a percentage of his holdings there, even if not all of it. This is because, as noted above, he has a pathological need to remain in the victim role. In setting himself up to be robbed, for example by deliberately having weak account security (as he himself, some might say proudly, explained all about recently), and then waiting for someone to come along and guess his password of 123456, he stays in the victim role and feels vindicated in proclaiming bitcoin to be one huge scamfest.
This is the opposite psychology of what we commonly term "normal". There are people out there who will deliberately hurt themselves, simply for the sake of dragging even one of us down with him. They are what older and wiser people termed Evil.
ha ha...wot an uptight bitter cunt u are.
September 07, 2016, 04:38:14 PM
That's why he tells people that bitcoin is doomed while at the same time managing to lose money on huge rallies.
Didn't lose money on the huge rally. Made money on the huge rally, albeit not as much as I might have done, although, had I just bought at $470, and held right right through until today, then I would still have the same profit level as I ended up taking from the market anyway.......except I wouldn't have, cos my accounts would have been wiped out by some bunch of thieves operating within the big exchanges.
I didn't lose money on the big rallies, I lost money by having the exchanges one way or another, plunder my accounts.....
.....like I say, counter party risk n all that.
Mat is insinuating that he keeps a lot of his money, fiat and crypto, on exchanges. This is, of course, a completely retarded thing to do and the only reason he suggests it is to further his narrative, that being: Bitcoin is insecure and Mat is a perpetual victim!
However, he might still keep a percentage of his holdings there, even if not all of it. This is because, as noted above, he has a pathological need to remain in the victim role. In setting himself up to be robbed, for example by deliberately having weak account security (as he himself, some might say proudly, explained all about recently), and then waiting for someone to come along and guess his password of 123456, he stays in the victim role and feels vindicated in proclaiming bitcoin to be one huge scamfest.
This is the opposite psychology of what we commonly term "normal". There are people out there who will deliberately hurt themselves, simply for the sake of dragging even one of us down with him. They are what older and wiser people termed Evil.
September 07, 2016, 01:57:23 PM
That's why he tells people that bitcoin is doomed while at the same time managing to lose money on huge rallies.
Didn't lose money on the huge rally. Made money on the huge rally, albeit not as much as I might have done, although, had I just bought at $470, and held right right through until today, then I would still have the same profit level as I ended up taking from the market anyway.......except I wouldn't have, cos my accounts would have been wiped out by some bunch of thieves operating within the big exchanges.
I didn't lose money on the big rallies, I lost money by having the exchanges one way or another, plunder my accounts.....
.....like I say, counter party risk n all that.
September 07, 2016, 01:41:11 PM
just a quote from warren buffet [Modified by Torque]:
"Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. Then over the last 200 years, it gets looted from vaults all over the world, faked, diluted with tungsten, priced set and pegged by monopolistic Elitist Mining Cartels, and ETF'd to death by many orders of magnitude, to the point that no one actually knows how much real Gold even exists in the world today, where it all lives, who controls what amounts (if any), and what its nominally speculative value should even remotely be anymore.
It has no utility. Anyone watching from Mars would be scratching their head. And a return to a worldwide Gold standard? Fat chance in Hell on that!"
"Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. Then over the last 200 years, it gets looted from vaults all over the world, faked, diluted with tungsten, priced set and pegged by monopolistic Elitist Mining Cartels, and ETF'd to death by many orders of magnitude, to the point that no one actually knows how much real Gold even exists in the world today, where it all lives, who controls what amounts (if any), and what its nominally speculative value should even remotely be anymore.
It has no utility. Anyone watching from Mars would be scratching their head. And a return to a worldwide Gold standard? Fat chance in Hell on that!"
FTFY
Just wanted to keep stuff simple
So in this case just leave this fuck*ng forum and bitcoin and trade gold, why the hell would you care bother here otherwise ?
Mat is the type who prefers dragging others down instead of pushing himself up. That's why he tells people that bitcoin is doomed while at the same time managing to lose money on huge rallies.I tried helping mat few months ago, but I had to give up, mat can't listen to anyone but himself.
September 07, 2016, 01:30:37 PM
just a quote from warren buffet [Modified by Torque]:
"Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. Then over the last 200 years, it gets looted from vaults all over the world, faked, diluted with tungsten, priced set and pegged by monopolistic Elitist Mining Cartels, and ETF'd to death by many orders of magnitude, to the point that no one actually knows how much real Gold even exists in the world today, where it all lives, who controls what amounts (if any), and what its nominally speculative value should even remotely be anymore.
It has no utility. Anyone watching from Mars would be scratching their head. And a return to a worldwide Gold standard? Fat chance in Hell on that!"
"Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. Then over the last 200 years, it gets looted from vaults all over the world, faked, diluted with tungsten, priced set and pegged by monopolistic Elitist Mining Cartels, and ETF'd to death by many orders of magnitude, to the point that no one actually knows how much real Gold even exists in the world today, where it all lives, who controls what amounts (if any), and what its nominally speculative value should even remotely be anymore.
It has no utility. Anyone watching from Mars would be scratching their head. And a return to a worldwide Gold standard? Fat chance in Hell on that!"
FTFY
September 07, 2016, 01:20:34 PM
So in this case just leave this fuck*ng forum and bitcoin and trade gold, why the hell would you care bother here otherwise ?
Mat is the type who prefers dragging others down instead of pushing himself up. That's why he tells people that bitcoin is doomed while at the same time managing to lose money on huge rallies. September 07, 2016, 12:44:08 PM
So in this case just leave this fuck*ng forum and bitcoin and trade gold, why the hell would you care bother here otherwise ?
just a quote from warren buffet:
"Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
if you want more go there :
http://www.minyanville.com/trading-and-investing/commodities/articles/Warren-Buffett-brka-gold-investing-investing/10/3/2012/id/44617
There is no fucking stock, commodity or whatever you want that is perfect, sorry mat, but you won't get rich quick
EDIT : the more time goes on, the more it looks like drugs are destroying you
just a quote from warren buffet:
"Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
if you want more go there :
http://www.minyanville.com/trading-and-investing/commodities/articles/Warren-Buffett-brka-gold-investing-investing/10/3/2012/id/44617
There is no fucking stock, commodity or whatever you want that is perfect, sorry mat, but you won't get rich quick
EDIT : the more time goes on, the more it looks like drugs are destroying you
Erm, what is your fucking problem, m8?
I have stopped trading Bitcoin, for good. I currently own some Bitcoin, but 30 times more gold (in terms of USD). And how often do I post on this forum these days...almost never, but if I feel like dropping a comment or two, then I shall fucking well do so and it has fuck all to do with you whether I do, or whether I don't. Prick!
And you can go and stick your fkn Warren Buffet quotes right up your fucking arsehole as well. Just some propagandist soundbite that fits the tone of the times in which it was it was made. Wouldn't be the first time that a statement that made sense X amount of decades ago, is proven to be total horseshit some ways down the line.
September 07, 2016, 12:25:12 PM
Cold storage has no 'counter party risk'.
Cold storage has the counter party risk, of whether tokens on given crypto network continue to be worth anything at all.
What if there is so much scandal and shenanigans on the Bitcoin exchanges, that the market turns away from Bitcoin in it's droves?
What happens if there is some reason for the Bitcoin network to go down?
What happens if a competing crypto renders Bitcoin obsolete (likely to happen one day)?
Or in the case of global conflict, what happens if internet connections across the globe, go down. What happens if an EMP bomb explodes near one of the major Bitcoin mining farms in China?
Crypto is riddled with counter party risk, in that holders of Bitcoin are relying upon so many factors and actions of others, that are totally outwith their control, but which could decide whether their invisible digital tokens have any value at all. Gold isn't like that. Gold is gold. Gold is real wealth right down to it's very core, always was and always will be, regardless of what temporary and doomed to failure makeshift value exchange token system that mankind happens to have gotten itself entangled with.
So in this case just leave this fuck*ng forum and bitcoin and trade gold, why the hell would you care bother here otherwise ?
just a quote from warren buffet:
"Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
if you want more go there :
http://www.minyanville.com/trading-and-investing/commodities/articles/Warren-Buffett-brka-gold-investing-investing/10/3/2012/id/44617
There is no fucking stock, commodity or whatever you want that is perfect, sorry mat, but you won't get rich quick
EDIT : the more time goes on, the more it looks like drugs are destroying you
September 07, 2016, 12:00:56 PM
Cold storage has no 'counter party risk'.
Cold storage has the counter party risk, of whether tokens on given crypto network continue to be worth anything at all.
What if there is so much scandal and shenanigans on the Bitcoin exchanges, that the market turns away from Bitcoin in it's droves?
What happens if there is some reason for the Bitcoin network to go down?
What happens if a competing crypto renders Bitcoin obsolete (likely to happen one day)?
Or in the case of global conflict, what happens if internet connections across the globe, go down. What happens if an EMP bomb explodes near one of the major Bitcoin mining farms in China?
Crypto is riddled with counter party risk, in that holders of Bitcoin are relying upon so many factors and actions of others, that are totally outwith their control, but which could decide whether their invisible digital tokens have any value at all. Gold isn't like that. Gold is gold. Gold is real wealth right down to it's very core, always was and always will be, regardless of what temporary and doomed to failure makeshift value exchange token system that mankind happens to have gotten itself entangled with.
September 07, 2016, 10:54:01 AM
Cold storage has no 'counter party risk'.
September 07, 2016, 08:45:53 AM
And then I saw Mat shorting and was like...
Aw shucks r0ach. I really have that affect on you? I am truly touched, I really am!
Tell you what, despite your dickhead internet persona, I can tell that you are one of the good guys, and it is for this reason, that I give you this sage advice:
FUCK BITCOIN! BUY GOLD NOW!
Going forward from here, I suspect that Bitcoin is going to languish in a range for quite some time and thereafter, the culmination of the next pump will see it get up to around $1500. So yeah, 'money' to be made here for sure, although when you compare Bitcoin gains to Shitcoin pump gains, Bitcoin aint worth getting out of bed for and besides from that, putting your wealth into crypto, is playing with fire, in all probability you gonna get burned at some point down the line and when you do, it will render much of your previous gains immaterial.
Bitcoin, like the JIDF fractional reserve banking racket that you are all hoping that Bitcoin displaces, is the very definition of 'vapour'. Bitcoin is nothing. Like the fiat money system, Bitcoin is nothing more than a placeholder token on a claim to real wealth. Right from it's atomic and sub-atomic structure upwards, gold is real wealth. The elites of ancient civilisations knew it, the modern day JIDF cabal know it as do their Chinese adversaries, and deep down, I think you know it as well.
We are entering a very unstable period. Over the coming years, the USD hegemony is set to come apart like the fragile grossly overextended house of cards that it is. I don't know for sure precisely which way she will implode, but I suspect hyperinflation over deflation, as the hyperinflationary route will represent the path of 'least evil', and will allow the US government to continue to service their debts and not default for just that little while longer. Indeed, in all probability, with all the global QE and now even negative interest rates around the world, the dice have already been set for a hyperinflationary crash. But whatever form that the coming monetary crisis takes, when the shit hits the fan, everyone is about to understand the true meaning of 'counter party risk', just as I have done so, first with Kraken, and then a couple of weeks later, with Bitfinex. Totally fucking cleaned out, powerless to do a damn thing about it.
We will never again, see a world in which good and services are exchanged for small pieces of gold and silver, but when the parasitic 'placeholder token' system into which the whole of humanity is currently hooked ceases to function, all that there will be left, is real wealth. i.e. The world of real resources and things and in the inorganic material world, nothing epitomises the law of attraction, and thus 'wealth' more, than gold!
September 06, 2016, 12:12:50 AM
And then I saw Mat shorting and was like...
September 05, 2016, 02:13:55 PM
When I read about Mat trades I just want to crawl into a ball and die:
September 04, 2016, 08:30:20 PM
mat BUY AND HOLD!!!!!!!!
FFS this is it.
FFS this is it.
September 04, 2016, 07:53:19 PM
Trying to buy $10k of btc on Coinbase and their site is down FUCK!!!!!
Check out the date/time, I was PISSED.
Ouch.
September 04, 2016, 06:57:18 PM
Trying to buy $10k of btc on Coinbase and their site is down FUCK!!!!!
Check out the date/time, I was PISSED.
September 04, 2016, 06:55:04 PM
After having been the only person on earth to be goxed by both Kraken and Finex in the same week, I'm confident Mat will be back for round two of casino gulag Finex when it reopens.
No chance of that.
a) I no longer have the funds to make it worthwhile (I am still 50/50 whether I am going to get anything out of Bitfinex, anytime soon)
b) Even if I did, I would be insane to entrust any significant amount of funds to any Bitcoin exchange, period.
and
c) my decision making is fucking atrocious.
People who have difficulty and/or confidence in making decisions, have no business trading. Trading is the ultimate decision making game.
And the amount of times that I have agonised over the fact that I had my limit orders set on BFX, in order to get my BTC off and turned into GBP, only to have discovered that I had left my mobile phone at my mothers, and when I called my mother for 2FA code, she wasn't in, etc etc.... I am the type of person that reads a lot of meaning into these things.....I had exactly the right idea in my head, i.e. "Get everything off BTC exchanges!", yet a cruel conspiracy of coincidences, sees that despite *knowing* to get the fuck off the motorway, I am still standing around in the middle of it, staring gormlessly at the speeding tanker heading right towards me.
This sounds all too familiar with my experiences trading. Often have the right ideas, but just have a knack of making the wrong decisions time and time again.
Failing a personality/karma transplant, I got to get the fuck away from this shit otherwise I will get my ass handed to me (already have).
Dont waste your time with this bullshit guys.
Remmeber the number one rule is dont lose money? In other words only only pull the trigger when you are really sure of it. Make sure you have waited as long as possible and if there is an excuse not to make a trade then take the excuse.
It is better to avoid losses and do nothing than to make good trades and then bad ones that cancel the good ones and more.
Remember guys the best action in this game, 99% of the time is "DO NOTHING.'
The market will always be open.
At the end of the day, there are other ways to make money in this life. Spend most of your time on those ways not on trading. Ocassionally there will be an opportunity in trading, when its there take it. However you know the game, how in matt's words "your ass can be handed to you. " . Just think about that before you make 1 single deposit with any broker whether you want that to happen. Remember there are many legendary traders who made millions only to lose it all and die pennyless.
I.E.: Making a profit however big is no good if the road you are travelling on leads eventually to total loss of all your money. Make sure you are not on that road!!!
On the one hand its very difficult to make money but even more difficult in this game is keeping it.
I would agree with most of what you said, but sometimes taking the trade doesn't work either. I tried to buy $10k of bitcoin when it fell below $500 last crash on Coinbase, and the fucking site was down. I tried like a dozen times to buy as the price just kept climbing before giving up in disgust. I'm also sure there were buys set at $500 on bitfinex that got cancelled out. I guess the moral is, even when you do things right there isn't a guarantee you will come ahead - that's crypto for you, it's one white hot fucked up mess.
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